■ PROPERTY
Homeowners stay optimistic
Slumping home sales and drooping prices have not diminished US homeowner optimism about their own nest egg's value, a recent survey shows. The survey by Boston Consulting Group showed 55 percent of Americans believe they could sell their house for more money now than a year ago, down slightly from the 59 percent who felt that way last summer. Nearly three-quarters think they could sell their homes within the next six months at a price they set, and 63 percent feel that real estate is a good or excellent investment.
■ AVIATION
JAL speeds up job cuts
Japan Airlines (JAL) said yesterday it will eliminate 4,300 jobs by March 2009, a year earlier than planned, as the ailing carrier tries to return to profit. Asia's largest airline has forecast a return to profit in the current financial year on the back of a major restructuring drive and a switch to more profitable routes after two straight years of losses. JAL had initially planned to cut 4,300 jobs, largely through early retirement, by March 31, 2010. "We are going to speed that up and we expect to achieve that target by the end of financial year 2008, or March 31, 2009," JAL spokesman Stephen Pearlman said.
■ ECONOMY
Yuan rise no panacea: China
A rise in the value of China's currency will not in itself be enough to narrow the nation's yawning trade surplus, a senior central bank official was quoted as saying in state media yesterday. "China's export-oriented economy is a structural problem which cannot be fixed merely by changing its exchange rate," said Wu Xiaoling (吳曉靈), deputy governor of the People's Bank of China, according to the China Daily. She made the remarks at a forum in Beijing after US Treasury Secretary Henry Paulson said on Wednesday that China's pace of reform was too slow and the yuan was still undervalued.
■ TELECOMS
Telus, Bell mull merger
Canada's second-biggest telecommunications concern, Telus, is in merger talks with market leader Bell Canada Enterprises (BCE) to create a global competitor with a quasi-monopoly in its home nation, the companies said. BCE announced late on Wednesday it had "entered into discussions to explore the possibility of a business combination" with Telus. Telus followed with a statement on Thursday morning, saying it "is pursuing non-exclusive discussions with BCE about a possible business combination." Both companies, however, said it is possible a deal would not be reached.
■ MARKETS
Tokyo boss wants efficiency
The new president of the Tokyo Stock Exchange promised yesterday to increase efficiency as part of efforts to be a winner in the global competition among bourses to lure investors. Atsushi Saito, president and chief executive officer, replaced Taizo Nishimuro who became the chairman. Saito, who had served as a vice president of major Nomura Securities, said he was determined to further internationalize the exchange. "We will compete in the global marketplace, with the US, with London, with Europe. Every stock exchange wants to remain as an international bourse and the competition is tough," Saito said. "Asian exchanges are rapidly increasing their presence and influence. We must compete with them too."
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source